Jack Ablin, CIO at Cresset Wealth Advisors, sees the ceasefire as reducing geopolitical uncertainty, though he says equity markets had already been largely shrugging it off. While he views the news as an incremental positive, he doesn’t believe it will ignite a new bull market. Still, he calls it a “significant milestone—if it’s true.”
Jake Dollarhide, CEO of Longbow Asset Management, points out that the ceasefire eases both geopolitical risk and high oil prices—two major headwinds for equities. He believes this development could serve as the spark for a continuation of the rally seen earlier in the day.
(Disclaimer: This slideshow has been sourced from Reuters)